Business Standard

Govt's 'admission of failure': MVA slams plan to yank out Rs 2,000 notes

Maharashtra's opposition Maha Vikas Aghadi slammed the move to withdraw the Rs 2,000 currency notes by September 30 as an admission of failure by the Bharatiya Janata Party govt at the Centre

A man counting Rs 2,000 notes. Photo: Shutterstock

IANS Mumbai

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Maharashtra's opposition Maha Vikas Aghadi (MVA) on Friday slammed the move to withdraw the Rs 2,000 denomination currency notes by September 30 as "an admission of failure" by the Bharatiya Janata Party government at the Centre.
Congress chief spokesperson Atul Londhe said that all the tall claims of the BJP in November 2016 that black money, terrorism, etc will end with the demonetisation of the erstwhile Rs 500-Rs 1000 currency note would end, have been proved hollow.
"Instead, they introduced Rs 2000 denomination currency notes and now these are also being taken off circulation. It's a clear admission of the government's failure," he said.
Nationalist Congress Party ((NCP) national spokesperson Clyde Crasto asked that the government must first clarify what were the exact benefits when the Rs 2,000 notes were introduced, and "how will it gain now that these same notes introduced with fanfare are being withdrawn from the circulation".
"The demonetisation was termed as a 'big success' by the government which had immediately introduced the Rs 2,000 currency notes in the market. If that is so, then why are these notes being withdrawn now and the people being harassed like this," he asked.
Shiv Sena-UBT national spokesperson Kishore Tiwari said that the impact of the latest move on the economy is a major cause of concern as the 2016 demonetisation of Rs 500-Rs 1000 denomination had failed miserably.
"The people have a right to know whether this is yet another economic experiment taken up after the November 2016 demonetisation disaster that yielded no tangible benefits to the country. Also, will the government now introduce Rs 1000 notes or will the existing Rs 500 denomination remain the highest in the economy," he said.
The MVA leaders say that such abrupt, drastic measures don't go down well with the ordinary people and also gives a wrong message affecting the country's international image.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 19 2023 | 9:55 PM IST

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